Fifth Third Bancorp (NASDAQ:FITB) Receives Average Rating of “Hold” from Brokerages

Shares of Fifth Third Bancorp (NASDAQ:FITB) have earned an average rating of “Hold” from the sixteen analysts that are presently covering the company, Marketbeat Ratings reports. Nine research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $37.26.

FITB has been the subject of a number of recent research reports. DA Davidson upped their price objective on Fifth Third Bancorp from $37.00 to $39.00 and gave the stock a “neutral” rating in a research note on Monday, April 22nd. Evercore ISI decreased their price target on Fifth Third Bancorp from $42.00 to $41.00 and set an “in-line” rating for the company in a research note on Tuesday. Robert W. Baird reissued a “neutral” rating and issued a $32.00 price target on shares of Fifth Third Bancorp in a research note on Monday, April 1st. UBS Group reissued a “neutral” rating and issued a $39.00 price target (down previously from $42.00) on shares of Fifth Third Bancorp in a research note on Thursday, April 4th. Finally, Stephens reissued an “equal weight” rating and issued a $41.00 price target on shares of Fifth Third Bancorp in a research note on Tuesday, June 11th.

Fifth Third Bancorp Price Performance

Shares of FITB opened at $35.85 on Friday. The company has a market cap of $24.52 billion, a P/E ratio of 11.38, a PEG ratio of 2.48 and a beta of 1.24. The stock has a fifty day moving average price of $36.88 and a 200 day moving average price of $35.50. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.81 and a quick ratio of 0.81. Fifth Third Bancorp has a 12 month low of $22.49 and a 12 month high of $39.14.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Friday, April 19th. The financial services provider reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. The firm had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $2.08 billion. Fifth Third Bancorp had a return on equity of 16.11% and a net margin of 17.70%. During the same period in the prior year, the business earned $0.78 EPS. On average, research analysts forecast that Fifth Third Bancorp will post 3.27 earnings per share for the current year.

Fifth Third Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 3.91%. The ex-dividend date is Friday, June 28th. Fifth Third Bancorp’s dividend payout ratio is 44.44%.

Insider Activity at Fifth Third Bancorp

In related news, EVP Jude Schramm sold 2,500 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $37.50, for a total value of $93,750.00. Following the completion of the transaction, the executive vice president now owns 136,922 shares in the company, valued at approximately $5,134,575. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Fifth Third Bancorp news, EVP Kala Gibson sold 14,857 shares of the firm’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $36.38, for a total transaction of $540,497.66. Following the completion of the sale, the executive vice president now directly owns 46,646 shares in the company, valued at approximately $1,696,981.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jude Schramm sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $37.50, for a total value of $93,750.00. Following the sale, the executive vice president now owns 136,922 shares of the company’s stock, valued at $5,134,575. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Fifth Third Bancorp

A number of institutional investors have recently bought and sold shares of the business. Financial Synergies Wealth Advisors Inc. acquired a new stake in shares of Fifth Third Bancorp during the 1st quarter valued at about $29,000. GoalVest Advisory LLC lifted its holdings in shares of Fifth Third Bancorp by 145.5% during the 4th quarter. GoalVest Advisory LLC now owns 945 shares of the financial services provider’s stock valued at $33,000 after buying an additional 560 shares during the last quarter. Denali Advisors LLC acquired a new stake in shares of Fifth Third Bancorp during the 4th quarter valued at about $36,000. Financial Management Professionals Inc. lifted its holdings in shares of Fifth Third Bancorp by 1,000.0% during the 4th quarter. Financial Management Professionals Inc. now owns 1,100 shares of the financial services provider’s stock valued at $38,000 after buying an additional 1,000 shares during the last quarter. Finally, Friedenthal Financial acquired a new stake in shares of Fifth Third Bancorp during the 4th quarter valued at about $48,000. 83.79% of the stock is currently owned by institutional investors and hedge funds.

About Fifth Third Bancorp

Fifth Third Bancorp operates as the bank holding company for Fifth Third Bank, National Association that engages in the provision of a range of financial products and services in the United States. It operates through three segments: Commercial Banking, Consumer and Small Business Banking, and Wealth and Asset Management.